CBIC Clarification on GST Treatment of Vouchers The GST treatment of vouchers has raised several questions, leading to confusion and disputes in the trade and industry. Circular No. 243/37/2024-GST dated 31 December 2024 seeks to clarify these issues and provide …
In the context of GST, the phrase “regularized on an as is, where is basis” means that tax payments made at a lower rate, or exemptions claimed by taxpayers, will be accepted. Additionally, no refund will be provided if the …
This Clarification regarding GST rates & classification (goods) is based on the recommendations of the GST Council in its 54th meeting held on 9th September, 2024, at New Delhi. Clarification regarding GST Rates & Classification of certain Goods: Based on …
Clarification in respect of advertising services provided to foreign clients The Central Board has issued a clarification in light of queries from trade and industry regarding advertising services provided by Indian companies to foreign clients. These clarifications aim to address …
If a taxpayer files an appeal and makes the required pre-deposit under subsection (8) of section 112, recovery of the remaining amount is stayed as per subsection (9) Trade and field formations have expressed concerns about recovery of outstanding dues …
Clarification on Time Limits for Input Tax Credit under RCM Supplies from Unregistered Persons- CBIC Circular 211/5/2024-GST Dated 26 June 2024 The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular 211/5/2024-GST to provide clarity regarding the time …
CBIC Circular No. 206/18/2023 Dated. 31 October 2023 CBIC Circular 206/18/2023-GST: Based on the recommendations of the GST Council in its 52nd meeting held on 7 October, 2023, at New Delhi, the Tax Research Unit (TRU) of the Department of …
CBIC Circular 205/17/2023 Dated. 31 October 2023 CBIC Circular 205/17/2023: In its 50th meeting, the GST Council recommended a reduction in the GST rate to 5% for imitation zari thread or yarn, known by various trade names. This important clarification …
CBIC Circular 202/14/2023 Dt. 27 October 2023 CBIC Circular 202/14/2023: In response to numerous requests for clarification regarding the admissibility of receiving export remittances in INR Vostro accounts, as permitted by the Reserve Bank of India (RBI), in the context …